Mio Technology sold 16,000 GPS devices in H1

“Mio’s business was very good this year, but we felt greater competition on the market with the accession of new no-name brands and low-end products, sold at very low prices,” according to the company’s Senior Brand Manager for Central & Eastern Europe, Anna Janas, for Business Standard.

For the whole of 2008, Janas estimates a 150 percent year-on-year increase in sales.

The company is to open an office in Romania this year, as part of its development strategy. “By the end of year, Mio will have a general manager and a marketing manager, who will work directly with our distributors, thus contributing to our local development. At the end of July, we are to open a call center for users,” Janas added.

Last year, Mio sold some 36,000 GPS systems in Romania, 700 percent higher than in 2006. At an average €350, sales amounted to €12.6 million, according to Business Standard estimates.

Last year, Mio products made up 60 percent of the market. “For this year, we are targeting a minimum 50 percent share, which will help us maintain our leader position in Romania,” according to Mio Technology’s General Manager for Eastern Europe, Mariusz Manowski.

The company’s main competitors on the local market are HTC, Eten and Garmin.